Overview

This course is designed for those interested in learning how to prepare, to read and analyze Financial Budget and Report as determined by BPMIGAS. The existing procedures in preparation of BPMIGAS AFE and POD will also be discussed in this course. Concepts and theory are presented in such a way that will invite participants to be actively involved in the discussions. The comprehensive understanding of procedures will ease company in performing its operation.

Objectives

• To describe contractual requirements related to the preparation, submission of Financial Budget & Report
• To understand how to prepare, read and analyze Financial Budget and its revision
• To understand how to prepare, to read and analyze Financial Report
• To learn how to prepare, to report and request for revision of AFE's including preparation of variance explanation.
• To learn how to prepare POD including the techniques to apply an economic justifications

Course Content

Contractual requirements

• Work Program and Expenditures
• Recovery of Operating Cost and Handling of Production
• Valuation of Crude Oil
• Compensation, Assistance and Production Bonus
• Payments
• Books and Accounts and Audits
• Accounting Procedures

Financial Budget

• General
• Preparation of Budget

Financial Reporting

• General
• Preparation of Financial Report

Authorization For Expenditures (AFE)

• General
• Preparation of AFE

Plan Of Development (POD)

• General
• Field Development and Reservoir Performance
• Production Facilities
• Economics

Case Study

Course Leader

Jamaluddin Siregar, BBA, Sth, Dipl Int’l Management, MBA